According to reports from people familiar with the situation, Broadcom Inc will no longer buy SAS Institute after the software company’s founders changed their minds and refused to sell.
Jim Goodnight and John Sall, who co-founded SAS years ago, made a U-turn on their original decision which the Wall Street Journal reported Monday.
Monday’s report revealed that talks were underway between semiconductor company Broadcom and SAS to reach an agreement that will allow Broadcom to buy the SAS Institute, which is estimated to be worth $15-20 billion.
The deal was due to be finalized in the coming weeks before SAS pulled out.
For more information read the original story in the WSJ.